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Ballpark Village Breaks Ground Today!

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After years of delays and changes, the ground breaking ceremony for Ballpark Village will be held today. The $100 million, first phase of the project is slated to open by opening day of the 2014 baseball season. Read more here.

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Rehabbed South City Home on Oleatha!!

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Rehabbed South City Home for Sale!  Check out The Agency’s newest listing at 4065 Oleatha, St. Louis, MO 63116 in South City!! What an amazing Home! Charming, Updated and Spacious, what more could you ask for? Incredible home with updates for the most particular buyers. Home Boasts Two spacious bedrooms, gleaming hardwood floors, fresh paint and new fixtures. Renovated Kitchen with Granite Countertops, 42” Mocha Cabinets, Stainless Steel Appliances, Built in Microwave, and stove. Comfortable Living room Opens to the Large Dinning Area perfect for entertaining. Partially finished Lower level perfect for an office or guest rooms for visiting guests! Two bathrooms with, vanity, lighting and fixtures. Large fenced back yard is perfect for those summer BBQs. Fenced yard and a 2 Car Garage! This is truly a property you must see to appreciate the Complete Renovation. Make your appointment today! Call Justin Taylor @ 314.280.9996.

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Assessed Home Values in St. Louis Expected to Drop

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It’s that time again. In every odd numbered year in Missouri county assessors reassess the value of all residential and commercial properties. As we saw in 2009 and 2011, home prices are lower than they were in 2007 despite a slight uptick in property values in 2012. While many could see lower assessments, some in certain cities or neighborhoods could see an increase in assessed valuation. Clayton, Ladue, parts of Sunset Hills and Kirkwood, St. Louis Hills, Soulard, Lafayette Square and the Central West End could possibly see increases due to more stable and sometimes increasing sales prices. To read comments by county assessors check out the article from the Post-Dispatch.

While your valuation may drop, you could see a higher tax bill as the millage rate for school districts and other special taxing districts has increased. Read more here. If you believe that your valuation is too high and would like to file an appeal contact The Agency today and we can assist you with the process.

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McKee to make case for keeping tax credits

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Developer Paul McKee will be pitching his case to Missouri state lawmakers in order to extend the Distressed Areas Land Assemblage tax credits from the Missouri Department of Economic Development. The credit is designed to reimburse land buying and borrowing costs associated with large scale, urban redevelopment. The project area encompasses 1,500 acres from Downtown to Midtown and across a large area of North St. Louis.

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Experts Predict Real Estate Recovery will pick up in St. Louis

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As reported by the St. Louis Post-Dispatch real estate markets on the east and west coast have emerged from the recession experts predict the same for St. Louis in 2013. As prices rise in places like New York and San Francisco, investors will look to the secondary markets of the Midwest. While St. Louis has struggled with job growth, its diversification of industries could help lead the recovery in real estate prices. Contact The Agency to find out more about St. Louis real estate.

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Whole Foods Market signs lease in Central West End

images (1)The $70 million City Walk project on Euclid Avenue in the Central West End has signed its first tenant – Whole Foods Market. The project is slated to begin in a few months with the store to open in mid-2015. It will add 120 new jobs to the city and will be another great amenity to CWE residents.

Interested in more information about Central West End real estate? Contact The Agency STL today!

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More Growth for St. Charles County in 2013

4c892eb5ccf05.preview-300An article in today’s St. Louis Post-Dispatch has great news for St. Charles County. Last year the county’s economy lead the region with a jobless rate declining to 5.3% in December 2012, 2.3 million square feet of new commercial, industrial and retail development, and nearly 1500 new homes built. This year could be even better as the rest of the St. Louis region continues to pull out of the recession.

Want to get the latest on St. Charles real estate? Contact The Agency STL today!

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Meeting will Update Public to Progress of City | Arch | River Project

cityarchriver-3bOn Thursday at America’s Center a meeting open to the public will be help to give an update from the City|Arch|River 2015 Foundation and its $550 million project to improve the river front on both the Missouri and Illinois side of the Mississippi River. $380 million of that will go towards improvements on the Missouri side that will include: connecting the Arch grounds with Downtown St. Louis via a “park over the highway”, improving the Old Courthouse, improving the Museum of Westward Expansion and raising Leonor K Sullivan Boulevard to bring it out of the flood plain and add amenities for residents and tourists. For more information check out this article from the STL Beacon.

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Cardinals to break ground on Ballpark Village next week!!

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As we found out last week, a grading permit had been issued for the site of the long delayed Ballpark Village in Downtown St. Louis. Yesterday afternoon, the Cardinals along with development partner Cordish Co., closed on financing for the project. The $100 million first phase will receive $17 million in state and city tax credits and will feature 100,000 square feet of restaurants, retail, and entertainment space. The first phase is slated to be completed by opening day of 2014. Read more at The St. Louis Post-Dispatch or Saint Louis Business Journal.

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Streetcars Could be coming to Downtown and the Central West End

512bdb92199fd.preview-620As reported by the St. Louis Post-Dispatch a public meeting will be held at the Moto Museum to discuss the possibility of building a streetcar line that would run from the Central West End to Downtown St. Louis, with an additional line that would include North St. Louis along Florissant Ave. A feasibility study has already been conducted and leaders are hoping to conduct an environmental impact study soon. The line would run mainly along Olive and would link Downtown, Midtown, and the Central West End and could spur development along the fixed track lines. The line along Florissant could help to rebuild the once vibrant area – along with Paul McKee’s Northside Regeneration plan. Studies in other parts of the country have indicated that property values along trolley lines can increase as a result of the investment.

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New Development coming to the University City Loop

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University City has approved Washington University’s plan for an $80 million mixed-use development along the Delmar Loop. Construction of a five story apartment building on Delmar will start this April, followed by another building on Delmar and two more buildings on Enright, a block north of Delmar. The project will add up to 265 apartments to house up to 600 students and 22,000 square feet of new retail space on Delmar. The project will also integrate many green features including: bicycle storage, solar panels, rain gardens and 125 new trees. Read more here.

Want to learn more about University City real estate? Contact The Agency STL today!

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Street Cars Could Generate $2 Billion in Economic Development to St. Louis

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The proposed streetcar line that would link Downtown to the Central West End with an additional line to the Near North Side could result in $2 billion in economic development over 20 years as reported by the Post-Dispatch. A similar line will be built along the Delmar Loop in University City and St. Louis City.

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More on Roberts Tower

510c76ea90ea8.preview-620The Post-Dispatch recently interviewed Bob Burk of UrbanStreet Group which just purchased the entire Robert’s brothers Downtown portfolio of properties for $16.5 million that include the Roberts Tower, Roberts Orpheum Theater, Mayfair Hotel, Roberts Lofts on the Plaza and four additional buildings on Locust Street.

Want to learn more about living in Downtown St. Louis? Contact The Agency STL today!!

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Surrey Hills Home for Sale in Richmond Heights

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Check out The Agency’s newest home for sale at 1129 Surrey Hills, Richmond Heights, MO 63117. Beautifully Renovated Two Bedroom Ranch tucked away in the desired Surrey Hills Neighborhood. Bring your most particular buyers that want all the updates! This stunning sun drench home with its open floor plan is perfect for entertaining. Updated Kitchen fit for a chef with Custom Cabinets, Granite Countertops, Stainless Steel Commercial Grade Appliances with double oven and built in refrigerator. Spacious Master Bedroom boasts Luxury Master Bath Suite w/ Double Bowls Sinks, Marble Custom Vanity, Steam Shower w/floor to ceiling seamless glass and Honed Marble throughout. Main Floor Media Room pre-wired for sound and TV or possible conversion back to a 3rd bedroom. Hall bath boasts Natural Stone, Jet Tub, Pedestal Sink and Custom made linen closet. Lower level with ample space is just awaiting your finishing touch. Enjoy your summer evenings on your all brick patio backing to the peaceful setting of Hampton Park. Too many updates to list! Call Justin Taylor @ 314.280.9996 to set up your showing today!!

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What does the future hold for the Edward Jones Dome and Convention Center?

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Last week the arbitrators between the St. Louis Rams and the Regional Convention and Visitors Commission sided in favor of the Rams $700 million proposal to bring the stadium to “First Tier” status per the terms of the lease agreement between the entities. Read more here.

There are 3 other sites in the St. Louis area that have been discussed as possible locations for a new stadium: the former site of Chrysler in Fenton, an area along the new section of highway 141 in Maryland Heights that is now farmland or the Bottle District just north of the dome that is owned by Paul McKee as part of his $8 billion Northside Regeneration project. The theme that all of these have in common is a larger footprint that will allow more parking closer to the stadium and an enhanced game day atmosphere.

While there will be much debate on where the Rams will likely move to after the 2015 season, there could actually be a benefit to Downtown should the Rams select to build a new stadium. The NFL schedules come out a year in advance, while many conventions schedule 3 years in advance. This causes the city to lose out on many conventions because it is unknown as to whether or not there will be a game on a certain weekend. With a 17 week NFL season, plus 4 pre-season games and possibly playoff games that could occur another 3 weeks, the CVC loses almost half a year’s worth of convention possibilities. Coupled with the fact that during the renovations that could take a couple of years, the CVC would lose out on even more.

Conventions bring in tens of thousands of visitors to the city that will fill Downtown restaurants, hotels and visit local stores for several days instead of an afternoon. While retaining the Rams is crucial to the region’s image as a large city, the exact location is not as important to overall economic activity.

Compare that to a typical football game in which fans are only downtown for an afternoon and many tailgate instead of visiting bars and restaurants Downtown. With at most 12 pre-season, regular season and playoff home games the revenue generated from additional conventions could be much greater.

If local leaders, the Rams and the NFL can identify a new site for the stadium and come to terms on the mix of private and public financing to keep the Rams in St. Louis, Downtown could take another giant leap forward.

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